Economic TimesLean R·
Oil pangs resurface for rupee, options market gauge signals bearish bias
On Monday, the Indian rupee fell to its lowest level in over a month, driven down by rising oil prices amid escalating tensions between the US and Iran. Despite the currency's decline, traders observed that the central bank's potential intervention helped mitigate further losses. Additionally, India's merchandise trade deficit saw a notable increase in June, raising concerns about persistent inflation that might lead to interest rate hikes.
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